Frequently Asked Questions
For Agents | For Buyers | For Sellers
1. Where is Preferred Real Estate located?
Preferred Real Estate Brokers has 3 locations.
Metrowest: 2121 Hiawassee rd, Orlando, FL 32835
Lake Nona: 9161 South Narcoossee road, Suite B-206, Orlando, FL 32827
Clermont: 2430 FL-50 Suite B, Clermont, FL 34711
2. What are the commission splits and programs?
For Schedule A- 100% commission splits. The agent transaction fee is $250.00 per closed transaction. The monthly fee is $99.00.
For Schedule B- 90% commission splits. The agent transaction fee is $0.00 and the monthly fee is $39.00.
For Schedule C- 80% commission splits. The agent transaction fee is $0.00 and there is no monthly fee.
3. Will there be broker training?
4. Is there a monthly fee and what does it cover?
There is a monthly fee only for 90%-100% commission splits. 80% commission splits has no monthly fee. What the fee includes is an agent web page, personalized customer home search app, and of course, more money for you when you close a deal.
5. Is there a transaction fee?
Only for 90%-100% commission splits and in this case, the transaction fee for 90% is $160 per file, and for 100%, the transaction fee is $250 per file.
6. Can I set up a real estate team within the brokerage?
Yes. We have many teams within Preferred Real Estate Brokers already
7. How am I paid my commissions?
Commissions are paid through checks
8. Are leads provided by the company? Is there a company split on leads?
Yes. Here at Preferred Real Estate, we have a marketing department that helps get leads for agents
9. What marketing material is provided?
Our marketing team offers lead generation, helps agents with their personal marketing, a free agent website,
10. Can I work part time?
We prefer agents that are able to give full time attention to their real estate business. This increases the chances for success.
11. Are company meetings and classes required?
They are not required but strongly advised. The more you are here to learn, the more information you will have for yourself and for your clients.
12. Where can I get yard signs with the Preferred Real Estate brokers logo for open houses?
We will provide the yard signs for open houses. Just let us know when you need them.
13. Are my leads’ information protected in the Preferred Real Estate leads system?
1. What is the first step in the homebuying process?
The first step is getting a pre-approval. This determines your budget, your down payment, how much the bank will loan you, and makes you look like you are a serious buyer.
2. How long does it take to buy a home?
It usually takes 30-45 days
3. How much do I have to pay an agent to help me buy a house?
You will pay little to no fees to a real estate agent. After the purchase of the home, the listing broker splits the profit with the buyer’s agent.
4. How much is needed for a down payment?
This depends on the pre-approval. This is determined by the cost of the home, the type of loan you get, and your income and credit. Typically the average is 11% but first time homebuyers might be able to qualify for a loan that requires less down, i.e. 3-5%.
5. How do I know if I am getting a good deal?
Your Preferred Real Estate agent will assist you in figuring out the true value of the home and give you an idea of if it is a good deal or not.
6. Should I order a home inspection?
This is strongly advised. This will uncover imperfections about the property that aren’t easily detectable.
7. What is earnest money?
This is a ‘deposit’ of 1%-2% of the home value. This is to show the seller that the buyer is serious about making an offer.
1. Why should I hire a real estate agent to sell my home?
They know about the market and can act on your behalf according to market conditions, they know what aspects of the house to advertise to attract the most buyers and can advertise for you, they’re a great resource to connect to lenders, insurance agents, contractors, etc, and can find the true price for your home based on how much it is worth.
2. How should I prepare my home for selling?
Get any repairs done, do a thorough cleaning of the house, and if needed, get a storage unit to store some of your stuff so that the inside of your home looks depersonalized, bigger and less cluttered.
3. What are the seller closing costs?
-Title search fees, HOA fees, attorney fees, Owner’s Policy and Charges / Recording & other fees needed to cure title and title search charges, and realtor fees.
4. What questions should I ask when interviewing a realtor to see if they are the right one for me?
-Ask if how long they have been a realtor and if they work full or part time, what are some of their negotiation skills, if they have an customer reviews of previous transactions, how they would go about pricing a home, and their suggestions for preparing your home for selling.
5. What factors should I consider when selling my home?
You have to price it correctly, understand your selling and closing costs, what unique features about your home can you highlight to buyers, what is the condition of your property, and is it in a desirable location.
6. What marketing strategies will be used to sell my home?
Social media, print/traditional marketing, online exposure, and video/photo content